Verdant Financial Partners I Inc.

November 19, 2015 08:30 ET

Verdant Financial Partners I Inc. Announces Change of Management

TORONTO, ONTARIO--(Marketwired - Nov. 19, 2015) - Verdant Financial Partners I Inc. (NEX:VFI.H) (the "Corporation") announces today that further to an October 2, 2015 press release, Thomas Wallace, Verdant Financial Partners Corp., The Puritt Family Trust, Tina Woodside, David Jones, and Falcon Corporation, each an individual or an entity controlled by an individual and former insider of the Corporation, have sold an aggregate of 690,994 common shares of the Corporation (the "Purchased Shares") to David Mitchell, Keith Harris and Alec Rowlands. In connection with the purchase and sale, David Jones, Roger Yates, and Peter Marson have resigned as a director of the Corporation and Thomas Wallace has resigned as Chief Executive Officer, Chief Financial Officer and a director of the Corporation. Keith Harris and Alec Rowlands have been appointed directors of the Corporation and David Mitchell has been appointed a director, Chief Executive Officer, Chief Financial Officer and Secretary of the Corporation. The transfer of escrowed shares and the subsequent change of management have been approved by the TSX Venture Exchange (the "Exchange").

The Purchased Shares are subject to an escrow agreement dated July 10, 2009 between the Corporation, Equity Financial Trust Company and the escrowed security holders, and accordingly, such shares may only be dealt with in accordance with the policies of the Exchange and the provisions of the escrow agreement.

The new directors and officers intend to immediately begin pursuing a suitable Qualifying Transaction (as such term is defined by Policy 2.4 of the Exchange) for the Corporation and are in the process of reviewing a number of candidates.

About Verdant Financial Partners I Inc.

Verdant Financial Partners I Inc. is a Capital Pool Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Contact Information

  • Verdant Financial Partners I Inc.
    David Mitchell
    Chief Executive Officer